Kingfisher drilling results set up funded Copper Blow follow-up

Copper Blow drilling underwrites the next exploration phase

Kingfisher Mining Limited (ASX:KFM) has entered its next exploration phase with both a funding commitment and a set of strong assays from its Broken Hill portfolio. At Copper Blow, the company reported 26 metres at 2.57% copper and 0.75 grams per tonne gold from 73 metres, including 13 metres at 4.07% copper and 1.20g/t gold.

A second hole returned 43 metres at 1.32% copper and 0.32g/t gold from surface, while a deeper intersection delivered 58 metres at 0.67% copper and 0.15g/t gold from 165 metres. Kingfisher said the results extended high-grade sulphide mineralisation along strike and at depth within the North Zone. The company also said its earlier high-grade Copper Blow drilling had helped advance the project towards resource development activities.

Approvals for the next Copper Blow drilling program were received during the quarter, with preparations described as being in their final stages. The planned work is intended to expand known copper-gold mineralisation and test priority geophysical targets identified through geological and geophysical reviews. That makes the upcoming program the clearest near-term test of whether the latest intersections represent a broader system rather than isolated high-grade zones.

Broken Hill portfolio adds two high-grade base-metal targets

The quarter also produced encouraging results from Kingfisher’s silver-lead-zinc assets. At Stephens Trig, the first drilling in almost a decade returned 5 metres at 7.4% combined lead and zinc with 10g/t silver from 79 metres, including 2 metres at 17.5% lead and zinc with 24g/t silver. Another hole contained a 1-metre interval grading 198g/t silver alongside lead and zinc.

Those results follow the company’s Stephens Trig maiden drilling, which validated historical mineralisation and confirmed high-grade zones beneath shallow cover. At Allendale, Kingfisher reported 9 metres at 8.05% combined lead and zinc with 17.9g/t silver from 64 metres, including 5 metres at 10.37% lead and zinc with 23.2g/t silver. The company said drilling at both prospects demonstrated continuity along strike and at depth, although the results remain exploration intersections rather than a mineral resource or development decision.

Placement lifts funding but adds the next execution test

After the quarter closed, Kingfisher secured commitments for an approximately $2.25 million placement before costs at $0.075 a share. The proceeds are earmarked for Copper Blow drilling and regional exploration across the wider Broken Hill portfolio. The raise follows the company’s recent $2.25 million placement, which was directed towards Copper Blow and broader Broken Hill exploration.

Kingfisher finished September with $876,000 in cash and reported approximately $1.984 million in cash and listed investments, including holdings in Black Cat Syndicate and Dreadnought Resources. Quarterly exploration and evaluation payments were $226,000, while total relevant outgoings used in the Appendix 5B funding calculation were $328,000, implying 2.7 quarters of funding on the pre-placement cash balance. The new capital improves that position, but the company still has to convert assays, targets and drilling approvals into a more defined exploration outcome.